Kearny, New Jersey Housing Market Prices
Kearny Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 13% below the New Jersey median$307,143
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Median rent About the same as the New Jersey median$1,720
Housing Market Overview
| Metric | Kearny | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $307,143 | $352,792 | $248,835 |
| Price Trend (Annual %) | 6.8% | 4.4% | 7.5% |
| Median Gross Rent | $1,720 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kearny is about 13% lower than in New Jersey. Rent follows a similar pattern, running close to the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Kearny, up about 6.8% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Kearny rose about 45.4% between 2015 and 2024, from $1,183 to $1,720. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Kearny.
Buying the median-priced home in Kearny costs roughly 14.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Kearny. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Kearny | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $307,143 | $352,792 | $248,835 |
| Median Household Income | $79,552 | $103,817 | $80,455 |
| Price-to-Income Ratio | 3.9 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Kearny rose about 59.1%, while median household income rose about 30.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Kearny | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.2% | 59.1% | 58.5% |
| Rental Rate | 54.8% | 33.5% | 31.2% |
| Vacancy Rate | 4.0% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Kearny has a homeownership rate of 41.2%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 4.0%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Kearny | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.63 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1953 | 1968 | 1978 |
| Median Number of Rooms | 4.9 | 5.7 | 5.5 |
The typical housing unit in Kearny was built around 1953. On average, 2.6 people live in a home with about 4.9 rooms, staying for about 13.0 years on average.
Kearny, NJ Housing Compared With Nearby Cities
How Kearny, NJ compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Kearny, NJ | 40,646 | $307,143 #1/2 | $1,720 #1/2 | 42.9% #1/2 |
| Newark, NJ | 309,652 | $190,352 | $1,392 | 24.4% |
Frequently Asked Questions
Common questions about the housing market in Kearny, New Jersey.
What is the median home price in Kearny, New Jersey?
The median home price in Kearny, New Jersey is $307,143, lower than the New Jersey average of $352,792.
What is the average home price in Kearny, New Jersey?
The typical home price in Kearny, New Jersey, reported as the median sale price, is $307,143. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Kearny, New Jersey?
The median gross rent in Kearny, New Jersey is $1,720 per month, about the same as the New Jersey average.
What was the median gross rent in Kearny in 2020?
In 2020, the median gross rent in Kearny, New Jersey was $1,338 per month.
What is the price-to-rent ratio in Kearny, New Jersey?
The price-to-rent ratio in Kearny, New Jersey is about 14.9, meaning it would take roughly 14.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Kearny.
Are home prices or rent rising faster in Kearny, New Jersey?
Both home prices and rent are rising in Kearny, up about 6.8% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kearny, New Jersey?
41.2% of households in Kearny, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Kearny, New Jersey?
The housing vacancy rate in Kearny, New Jersey is 4.0%, lower than the New Jersey average of 7.5%.
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